Clearway Energy (NYSE:CWEN) Sets New 12-Month High at $20.01

Clearway Energy Inc (NYSE:CWEN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.01 and last traded at $20.01, with a volume of 101 shares trading hands. The stock had previously closed at $19.91.

Several equities analysts have issued reports on the company. ValuEngine downgraded Clearway Energy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on Clearway Energy from $15.00 to $17.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 25th. Zacks Investment Research raised Clearway Energy from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, July 19th. Evercore ISI reissued a “hold” rating and issued a $16.00 target price on shares of Clearway Energy in a research note on Sunday, August 11th. Finally, Bank of America raised Clearway Energy from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.75.

The company has a 50 day moving average price of $18.57 and a 200 day moving average price of $17.07. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 3.02 and a beta of 1.22. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 2.13.

Clearway Energy (NYSE:CWEN) last released its earnings results on Tuesday, August 6th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.62). The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $316.49 million. Clearway Energy had a negative net margin of 8.90% and a negative return on equity of 4.14%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Equities analysts predict that Clearway Energy Inc will post 0.66 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWEN. ETRADE Capital Management LLC acquired a new stake in shares of Clearway Energy in the 2nd quarter valued at $203,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Clearway Energy during the second quarter worth $256,000. Natixis acquired a new stake in shares of Clearway Energy during the second quarter worth $310,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Clearway Energy during the second quarter worth $485,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Clearway Energy during the first quarter worth $810,000. 32.63% of the stock is owned by institutional investors.

About Clearway Energy (NYSE:CWEN)

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

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